Luminance’s core technology, LITE, enables the platform to not only form an understanding of a document, but then augment this knowledge by learning from the interaction between legal professionals and the matter at hand. Luminance can automatically perform tasks such as document clustering, filtering, data extraction, similar paragraph/datapoint suggestions, model clause/document comparison and anomaly detection.
Luminance’s core engine, LITE, powers applications across different practice areas including Discovery, helping litigators with eDiscovery, arbitration and disputes, and Diligence, supporting corporate lawyers with post-executed contract analytics in tasks such M&A due-diligence, property lease abstraction, model document comparison, exposure analysis and associated repapering.
Luminance has transformed the professional practices of over 250 organisations in 50 countries, one-fifth of ‘The Global 100’ including Holland & Knight, Slaughter and May and Bird & Bird, and each of the Big Four accounting firms, and has won numerous accolades, including the Queen’s Award for Innovation, being selected as a ‘Technology Pioneer’ by the World Economic Forum and making CNBC’s ‘Upstart 100’ list.
In February 2019, Luminance raised $10 million during a round of Series B funding, with the current valuation of the company standing at $100 million.